Ferrari greatly benefited from Formula 1 and increased shipments of its products during the third quarter.

The Italian automaker generated $1.24 billion in revenue, up from $1.04 billion in Q3 the year before, and expects full-year revenue to remain at a previous estimate of $5 billion.

Ferrari saw its sponsorship, commercial, and brands segment generate $110 million in revenue, up 1.3% year-over-year, thanks to the iconic car brand’s F1 sponsorship deals.

The brand’s engines segment saw revenue reach $63.7 million during the quarter, a 24.8% increase year-over-year, behind rentals to other F1 racing teams.  

Ferrari did, however, see industrial costs — plus research and development expenses — from Formula 1 and product innovation increase.

The automaker is pursuing more green initiatives on and off the racetrack.

• Ferrari announced in April that its first all-electric vehicle will debut in 2025.
• It will participate in LMDh, a hypercar class that demands a clean-energy output.
• Acura, Toyota, Peugeot, Porsche, Audi, and Cadillac will also race in LMDh in 2023.

Ferrari previously produced two hybrid vehicles: the LaFerrari, which debuted in 2013, and the SF90 Stradale, which hit the streets in 2019.

Activision Blizzard remains one of the top-earning game makers in the U.S. as it seeks to reform its company culture.

The company saw revenue grow to $2.07 billion in the third quarter, up 5.9% year-over-year.

Product sales accounted for only $423 million of that sum, with the rest coming mainly from in-game purchases and subscriptions.

Activision Blizzard saw strong growth from its King and Blizzard segments, whose revenues respectively rose 22% and 20% year-over-year. King is known for “Candy Crush” while Blizzard makes “Diablo” and “World of Warcraft.”

The company is still handling a scandal that went public when the California Department of Fair Employment and Housing filed a lawsuit against Activision Blizzard alleging it ignored claims of sexual harassment, discrimination, and retaliation.

• Activision Blizzard said more than 20 employees “have exited the company” following an investigation.
• The company pledged $250 million over the next 10 years in “initiatives that foster expanded opportunities in gaming and technology for under-represented communities.”
• In September, Activision Blizzard reached a settlement with the U.S. Equal Employment Opportunity Commission, which included the creation of an $18 million settlement fund for those who experienced harassment or discrimination at the company.

Last week, CEO Bobby Kotick asked the board to reduce his salary to the state minimum for salaried workers, $62,500, and pledged to forgo bonuses and equity grants.

Greg Norman was the 1995 PGA Tour Player of the Year and a three-time runner-up at The Masters.

Now, he’s looking to expand the sport through a rival to the PGA Tour.

Norman was named CEO of LIV Golf Investments on Friday, as the company announced a $200 million investment in a 10-year partnership with the Asian Tour. LIV is a firm owned by the Public Investment Fund, Saudi Arabia’s sovereign wealth fund.

• The Asian Tour will add a 10-event series to its schedule, starting next year.
• In September, the Asian Tour announced a 10-year pact with Golf Saudi to incorporate the Saudi International, which had previously been part of the European Tour.

In May, a Saudi-backed group of investors sought to lure top golfers with eight-figure bonuses to a Formula 1-like breakaway tour of 15-to-18 cities around the world. PGA Tour commissioner Jay Monahan threatened an immediate ban and lifetime suspension for players who joined the league.

Norman will step away from the Greg Norman Company, a conglomerate best known for designing golf courses that also has divisions in wine, beef, real estate, and venture investments.

The $450 billion PIF bought Premier League team Newcastle last month for $409 million and led a $760 million investment in McLaren in July.

For more on moves like Norman’s, check out Front Office Sports Insights’ deep dive into growth opportunities in the golf industry.

Ralph Lauren Corporation posted second-quarter earnings on Tuesday, recording a 26% revenue increase to $1.5 billion, due in part to its Summer of Sports sponsorships.

Team USA sported Ralph Lauren at the Tokyo Olympics and the 43rd Ryder Cup, weeks after the brand teamed up with tennis’ U.S. Open.

Earlier this year, Ralph Lauren secured a deal with Major League Baseball to create collections for four teams. It also entered an agreement with G2 Esports.

• The brand has been the official outfitter of the U.S. Open since 2005.
• It started outfitting Team USA for the Olympics’ opening and closing ceremonies in 2008 and reportedly pays the U.S. Olympic Committee roughly 10% in royalties on the sale of the Olympic products.

North American revenue jumped 30% to $703 million, revenue in Europe shot up 38% to $496 million, and revenue in Asia rose 14% to $270 million during the quarter.

President and CEO Patrice Louvet said the company’s market share is growing, and it remains “on offense.” The average price of its items increased by 14% during the quarter.

Last week, Ralph Lauren unveiled Team’s USA’s uniforms for the Beijing Olympics.